The Central Bank of Nigeria (CBN) has told customers of banks to start refusing to collect old notes from banks..
She said sanctions would be applied to any erring Bank found dispensing old notes to customers henceforth.
The Deputy Director, Currency Operation, Dr Rekiyat Yusuf stated this in Lokoja on Thursday during the sensitisation of market men and women about the redesigned Naira notes.
In a response to a customer over the continued dispensing of old naira notes to customers in Lokoja via ATM, Dr Yusuf said, “if banks give you old notes, reject it and return it to them , and reports the bank to us immediately for appropriate action. We have given them enough new currency notes to dispense to replace the old ones in circulation.
“Carry your old naira notes in your possession to the bank, deposit it without any charges attached . CBN have directed commercial banks not to charge anything on such deposit . By 31st January, this present naira notes will not be accepted for buying and selling in this country ” the CBN official said.
“There is no reason for banks to still be stocking their Automated Teller Machines with old notes ,as the Apex bank has made enough redesigned notes available for dispensing to members of the public. Any bank caught would be made to face appropriate sanction”, she said.
Thereafter, the Apex bank embarked on the inspection of some Automated Teller Machines within the metropolis to ensure that the machines are stocked with the newly redesigned notes.